Slovakia to sell minority in Slovak Telekom through IPO

PRAGUE Fri Feb 14, 2014 5:22am EST

PRAGUE Feb 14 (Reuters) - The Slovak government will float its 49 percent stake in fixed and mobile networks operator Slovak Telekom on the capital market later this year, the country's Economy Ministry said on Friday.

It said it had signed a memorandum of understanding with majority shareholder Deutsche Telekom allowing it to proceed with the sale.

"Now advisers and investment banks will be selected, and the state can sell its stake through an initial public offering within nine months," minister Tomas Malatinsky said in a statement. (Reporting by Jan Lopatka)